Sompo Asset Management Co. Ltd. Reduces Stake in Boston Properties, Inc. (NYSE:BXP)

Sompo Asset Management Co. Ltd. lowered its position in Boston Properties, Inc. (NYSE:BXP) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,680 shares of the real estate investment trust’s stock after selling 700 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Boston Properties were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BXP. UMB Bank n.a. boosted its position in Boston Properties by 115.5% in the second quarter. UMB Bank n.a. now owns 709 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in Boston Properties by 59.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 395 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Boston Properties in the second quarter valued at approximately $91,000. Sound Income Strategies LLC boosted its position in Boston Properties by 198.1% in the first quarter. Sound Income Strategies LLC now owns 1,428 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 949 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in Boston Properties in the 1st quarter worth approximately $108,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other Boston Properties news, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Properties news, EVP Raymond A. Ritchey sold 21,835 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.25, for a total value of $1,621,248.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter V. Otteni sold 4,785 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $73.44, for a total value of $351,410.40. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Analyst Ratings Changes

BXP has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Boston Properties from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Evercore ISI upped their price objective on Boston Properties from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Scotiabank upped their price objective on Boston Properties from $76.00 to $82.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 11th. Wedbush upped their price objective on Boston Properties from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Boston Properties in a research report on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Properties currently has a consensus rating of “Hold” and an average price target of $74.08.

Boston Properties Stock Down 1.6 %

NYSE BXP opened at $81.02 on Friday. The business has a fifty day moving average price of $72.20 and a 200 day moving average price of $65.37. Boston Properties, Inc. has a one year low of $50.64 and a one year high of $83.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 4.83 and a current ratio of 4.83. The company has a market cap of $12.72 billion, a P/E ratio of 66.41, a P/E/G ratio of 0.35 and a beta of 1.18.

Boston Properties (NYSE:BXP) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.72 by ($1.21). Boston Properties had a net margin of 5.01% and a return on equity of 2.05%. The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $819.49 million. During the same period in the prior year, the company posted $1.86 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts anticipate that Boston Properties, Inc. will post 7.11 EPS for the current fiscal year.

Boston Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Monday, September 30th. Boston Properties’s dividend payout ratio (DPR) is presently 321.31%.

About Boston Properties

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.